Ellington Financial (NYSE:EFC) Downgraded to “Neutral” at UBS Group

UBS Group lowered shares of Ellington Financial (NYSE:EFC) from a buy rating to a neutral rating in a report released on Monday morning, Analyst Ratings Network reports. The firm currently has $18.50 price objective on the financial services provider’s stock, up from their prior price objective of $17.50.

A number of other research firms also recently commented on EFC. Maxim Group restated a buy rating and set a $20.00 price objective on shares of Ellington Financial in a report on Friday, April 16th. Zacks Investment Research upgraded Ellington Financial from a hold rating to a buy rating and set a $21.00 price target for the company in a report on Monday, May 31st. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $17.06.

EFC stock opened at $19.32 on Monday. The firm has a market cap of $845.87 million, a P/E ratio of 4.60 and a beta of 2.19. The company has a current ratio of 30.47, a quick ratio of 30.47 and a debt-to-equity ratio of 3.57. The business’s fifty day moving average price is $18.30. Ellington Financial has a 52 week low of $10.77 and a 52 week high of $19.47.

Ellington Financial (NYSE:EFC) last released its quarterly earnings data on Wednesday, May 5th. The financial services provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. The business had revenue of $28.74 million during the quarter, compared to the consensus estimate of $27.32 million. Ellington Financial had a return on equity of 9.43% and a net margin of 172.10%. As a group, equities analysts forecast that Ellington Financial will post 1.75 earnings per share for the current year.

The business also recently declared a monthly dividend, which will be paid on Monday, July 26th. Investors of record on Wednesday, June 30th will be issued a $0.15 dividend. The ex-dividend date is Tuesday, June 29th. This represents a $1.80 annualized dividend and a yield of 9.32%. Ellington Financial’s dividend payout ratio is currently 110.43%.

Large investors have recently bought and sold shares of the business. Lazard Asset Management LLC purchased a new position in Ellington Financial in the 1st quarter valued at about $27,000. FORA Capital LLC purchased a new position in Ellington Financial in the 1st quarter valued at about $28,000. Point72 Hong Kong Ltd boosted its position in Ellington Financial by 1,003.2% in the 1st quarter. Point72 Hong Kong Ltd now owns 3,442 shares of the financial services provider’s stock valued at $55,000 after buying an additional 3,130 shares during the last quarter. Quantbot Technologies LP boosted its position in Ellington Financial by 489.7% in the 1st quarter. Quantbot Technologies LP now owns 7,324 shares of the financial services provider’s stock valued at $117,000 after buying an additional 6,082 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in Ellington Financial in the 4th quarter valued at about $156,000. 61.60% of the stock is owned by institutional investors.

About Ellington Financial

Ellington Financial Inc, through its subsidiary, Ellington Financial Operating Partnership LLC, acquires and manages mortgage-related, consumer-related, corporate-related, and other financial assets in the United States. The company acquires and manages residential mortgage-backed securities (RMBS) backed by prime jumbo, Alt-A, manufactured housing, and subprime residential mortgage loans; RMBS for which the principal and interest payments are guaranteed by the U.S.

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Analyst Recommendations for Ellington Financial (NYSE:EFC)

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